| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2015) 5 final (8.1.15) |
| Publication Date | 08/01/2015 |
| Content Type | Policy-making |
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The Ukrainian authorities requested macro-financial assistance from the EU of €2 billion on 9 September 2014. The request for MFA was reiterated in a further letter on 15 December 2014. Taking into consideration these requests and the economic situation in Ukraine, in particular the emergence of significant additional external financing needs, the European Commission is submitting to the European Parliament and the Council a proposal to grant MFA to Ukraine of maximum €1.8 billion in the form of medium-term loans. The objective of the proposed MFA is to help Ukraine cover part of its residual additional external financing needs in 2015 and early 2016 in the context of the on-going IMF programme. The EU’s assistance would also reduce the economy’s short-term balance of payments and fiscal vulnerabilities, while supporting the government’s adjustment and reform programmes through an appropriate package of accompanying policy measures to be agreed with the Ukrainian authorities in a Memorandum of Understanding (MoU). In this context, the Commission considers that the political and economic pre-conditions for a MFA operation of the proposed amount and nature are satisfied. |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2015:005:FIN |
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| Countries / Regions | Europe, Ukraine |
